According to a an irate consumer writing the following
Rip Off Report
Juniper, Barclays Bank, Barclaycard US, Barclaycard International, delays posting pmts in order to charge late pmts;it also uses Those Late Fees To Justify Increasing Consumers Interest Rates Wilmington Delaware
An on-line review of Barclay's Bank Deleware states
Worst credit card company I ever dealt with. They run the US Air credit card program. Customer service is horrible. I called and asked for someone in the US I could speak with and was told there is no one I can talk to. I asked for the President's name and was given a name that didn't exist.
I have been trying to reduce the balance on my Barnes and Noble Mastercard held by Barclay's Bank Deleware to no avail. Fees are added onto my balance as "purchases" before the payment due date, which puts me over-the-limit, resulting in a $39 "over-the-limit" fee. If I am late with the payment (no longer any "grace period") I am charged a "late fee." Either fee will cause the interest rate to be raised to a very high rate (currently close to 30%) until you go for 6 months without incurring either fee.
My retirement check and Social Security check come in once per month (not every 27 or 28 days as in the cc billing cycle). I haven't seen this problem addressed as a salient issue...a billing cycle shorter than the income cycle.
When I call I get a "account manager" from India, who will sometimes waive the "over-the-limit" fee when I point out that I am not making any purchases and that I am trying to pay down my balance.
I was informed by one rather rude "account manager" from India that "You were the one who made the purchases." I then pointed out that I was trying to pay off my purchases...but having no luck due to the predatory fees and high interest rates applied after I had made the purchases...thereby doubling my minimum monthly payment.
I googled to find out contact information for the CEO of Barclay's Bank Deleware, but it appears that they either change the CEO frequently, or are hiding the CEO. The number I called did not list the individual named as the CEO for the number given for him.
It is frustrating to be at the mercy of these financial "wizards" who are able to create their own wealth at the expense of consumers, then ask for more money from the government while they enjoy their ill-gotten wealth.
The pattern appears to be be the same for all of the major credit card issuers. I have had similar experiences with Citibank.
I had no trouble making timely payments until fees were imposed, interest rates were raised, and minimum monthly payment almost doubled. (In fact, I used to pay more than the minimum payment, but now that is difficult.)
I do hope that Congress will hear our demands for reining in these runaway rogues who have somehow become entrenched in our financial institutions.
I agree that the government needs to step in to rescue a critically ill financial system, but the cancerous growths need to be removed and the wounds need to be stitched shut so that healing can occur.